CSX Co. to Issue Quarterly Dividend of $0.12 (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) declared a quarterly dividend on Wednesday, October 2nd,Zacks Dividends reports. Investors of record on Friday, November 29th will be given a dividend of 0.12 per share by the transportation company on Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Friday, November 29th.

CSX has increased its dividend by an average of 8.3% per year over the last three years and has raised its dividend every year for the last 20 years. CSX has a payout ratio of 23.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CSX to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 23.5%.

CSX Stock Performance

NASDAQ:CSX opened at $36.58 on Thursday. CSX has a 1 year low of $31.65 and a 1 year high of $40.12. The firm’s fifty day simple moving average is $34.64 and its 200 day simple moving average is $33.99. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $70.54 billion, a PE ratio of 19.67, a PEG ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. On average, sell-side analysts anticipate that CSX will post 1.84 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on CSX shares. Stifel Nicolaus decreased their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Barclays raised their price target on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $38.78.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.